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These are not static programmes. Each has been refined and expanded since launch and this is likely to continue as more participants join and as regulators streamline procedures and broaden the scope of the schemes.

This article highlights, as of February 2018, the key features and planned developments of the three main schemes to access China : Stock Connect, Bond Connect and Mutual Recognition of Funds

Key considerations

For managers wanting to set up a Hong Kong fund for investments into China, the Securities and Futures Commission (SFC) two-stream fast-track approval process takes an estimated one month for standard funds approval

The China Securities Regulatory Commission (CRSC) application process may take longer. Since the launch of the scheme in 2015, ten funds have been approved for distribution into China (as of January 2018)

Innovative distribution strategies would be one of the key success factors

Planned and potential developments

Fund managers keen for regulators to re-examine the “50/50” rule

Hong Kong regulators have been seeking mutual recognition deals with other jurisdictions (Switzerland in December 2016, France in July 2017, and a UK scheme is in discussion) to broaden investor pools open to Hong Kong domiciled funds